Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Brian Corporation's June 30 adjusted trial balance included many accounts, including the following: Accounts Payable $12,000 Accounts Receivable $18,000 Cash $14,000 Dividends $4,000 Fees

The Brian Corporation's June 30 adjusted trial balance included many accounts, including the following:

Accounts Payable

$12,000

Accounts Receivable

$18,000

Cash

$14,000

Dividends

$4,000

Fees Revenue

$93,000

Income Taxes Expense

$7,000

Income Taxes Payable

$1,700

Insurance Expense

$12,500

Interest Revenue

$3,000

Prepaid Insurance

$3,300

Retained Earnings

$44,000

Supplies

$7,000

Supplies Expense

$6,000

Unearned Fees

$3,200

Wages Expense

$56,000

Wages Payable

$2,000

Determine the dollar balance in the supplies expense account on the Corporation's June 30 post-closing trial balance.

a.

$0

b.

$6,000

c.

$1,000

d.

$7,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Apple Marketing Audit And New Service Product Plan

Authors: Sherry King

1st Edition

3656610797, 978-3656610793

More Books

Students also viewed these Accounting questions